Société Foncière Lyonnaise (SFL) has responded to the wishes of Inmobiliaria Colonial, its majority shareholder since July 2004, by opening up its capital to a new shareholder, Prédica. By acquiring 4,126,400 ordinary shares at a price of € 38 per share, Prédica will become SFL´s second largest shareholder with 9.6% of the capital and 9.9% of the voting rights following conversation of the bonds held by Colonial.

Prédica, the Crédit Agricole Group´s personal insurance subsidiary, has partnered SFL in several property transactions. Its decision to cement this partnership by becoming a shareholder testifies to its confidence in SFL´s growth potential.

In conjunction with its acquisition of a stake in SFL, Prédica has signed a shareholders´ agreement with Inmobiliaria Colonial. The terms of the agreement have been communicated to the French securities regulator, AMF.

At the General Meeting held yesterday, SFL shareholders elected as a director Jean-Jacques Duchamp, member of the Prédica Executive Committee.

The General Meeting was followed by a Board Meeting, at which Francisco Emilio Ruiz Armengol and Jean-Jacques Duchamp were appointed as new members of the Company´s Audit Committee.

The Board of SFL also decided to pay an interim dividend of € 0.70 per share, on 10 December.

Source: SFL

Related News